What are the documents required for Supplier Credit ?
Documents required for Supplier Credit Loans are Request letter, offer letter, Letter to Credit, KYC report of Buyer and Suppliers.
| Bank Name | Max Loan (Lacs) | Interest Rate | SBLC Issuing Charge | Maximum Tenure (Month) | |
|---|---|---|---|---|---|
|
5000
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.85%
|
1%
|
6
|
|
|
5000
|
4.80%
|
1%
|
6
|
|
|
4500
|
4.85%
|
1%
|
6
|
|
|
4500
|
4.75%
|
1%
|
6
|
|
|
5000
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.85%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
.png)
|
5000
|
4.80%
|
1%
|
6
|
|
|
4500
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.85%
|
1%
|
6
|
|
|
4500
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
.png)
|
4500
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.80%
|
1%
|
6
|
|
|
5000
|
4.85%
|
1%
|
6
|
|
|
5000
|
4.75%
|
1%
|
6
|
|
|
4500
|
4.75%
|
1%
|
6
|
|
|
5000
|
4.85%
|
1%
|
6
|
|
|
5000
|
4.80%
|
1%
|
6
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
4.75% |
|
|
|
4.80% |
|
|
|
4.75% |
|
|
|
4.75% |
|
|
|
4.85% |
|
|
|
4.80% |
|
|
|
4.85% |
|
|
|
4.75% |
|
|
|
4.80% |
|
|
|
4.85% |
|
|
|
4.75% |
|
|
|
4.80% |
|
|
|
4.75% |
|
|
|
4.80% |
|
|
|
4.80% |
|
|
|
4.75% |
|
|
|
4.85% |
|
|
|
4.80% |
|
|
|
4.75% |
|
|
|
4.75% |
|
|
|
4.80% |
|
|
|
4.85% |
|
|
|
4.75% |
|
|
|
4.75% |
|
|
|
4.85% |
|
|
|
4.80% |
|
Supplier credits helps in getting ability to negotiate commercial terms with suppliers, access to the raw materials, capital goods at lower interest rates & as an exporter you will able to receive the payment immediately.
Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.
Note: - - You can avail up to 85% of contract value as a loan amount
There are top factors that generally affects Supplier credit finance eligibility criteria as given below: -
Credit History: - Lenders are always ready to fund you, but the major reason for not funding all is that will you able to repay it? Therefore, they look at your past credit history to ensure you future commitments of repayment. So, if there any default payment found your eligibility level get lower.
Due to rejection of previous loan application: - As the factor itself cleared due to rejection of previous loan application, your new loan application gets affected as applying for multiple times, it will lower your credit score which led to reduces the eligibility chances.
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Repay existing loan: - Lender check while going through your loan application that you are having any existing loan as it will reduce your debt-to-income ratio. Therefore, try to close it as much as earlier before applying for new loan.
Build a strong credit record: - A strong credit record helps you in getting loan easier & aid in evaluating credit risk, for that you are required to do payment on timely manner as it will enhance your eligibility.
What are the documents required for Supplier Credit ?
Documents required for Supplier Credit Loans are Request letter, offer letter, Letter to Credit, KYC report of Buyer and Suppliers.
How to apply Supplier Credit online?
It's easy to apply online for a Supplier Credit Loan just submits your request letter through the website ill the application form with correct values, attach all the necessary documents.
What is the additional fee I have to pay for Supplier Credit?
Some other fees you have to pay for Supplier Credit Loan like conformation cost, processing fee, LC advising fee etc.
Who can apply for Supplier Credit?
Any exporter or suppliers can apply for Supplier Credit Loan.
What are the benefits of Supplier Credit?
There are some benefits of Supplier Credit Loan; -
What is Supplier Credit?
This short-term credit facility provided for an exporter or lenders, supply goods or services to a foreign buyer on credit terms and condition.
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CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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